Rich people in Z眉rich

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Duc de Bourgogne Member

Member since 26 February 2011

Duc de BourgogneMember30 September 2012 20:30:15

Hi guys,
It is very usual to see young people in luxury cars in Z眉rich (Lamborghini, Ferrari...). I wonder which jobs they have exactly that enable them to get such luxury goods.

I believe they work in banking field like e.g. Trader or other. Any clue of which kind of jobs such people in Z眉rich have? And how they are paid for it?

(Btw, you can show off even without having a lot of money in the bank...).

See you
D2B

SammyDee Member

Member since 15 September 2012

SammyDeeMember01 October 2012 13:40:26

Yeh banks used to pay really REALLY well. But the wages dropped a bit lately and will keep dropping in that industry. Don't get me wrong, they still get decent wages, but not comparable to what they were used to earn.

Commodity traders also make good money, and you obviously have the lawyers and doctors.

Duc de Bourgogne Member

Member since 26 February 2011

Duc de BourgogneMember02 October 2012 11:35:20

Hi SammyDee,

Thanks for your reply.
I got few numbers on the web confirming what you argue:

Assistant Trader Commodities: Salary CHF54'816-193'916, Bonus CHF2'013-223'491
Trader, commodities: Salary CHF53'490-220'000, Bonus up to CHF986'326 ()
Business Analyst, Finance: Salary CHF47'805-138'125, Bonus up to CHF20'482
Swiss private bankers: CHF245'000 av.
(Sources:)

The following article also shows that golden age looks to be away for bankers: bloomberg.com/news/2011-12-21/swiss-bankers-millionaire-dreams-fade-as-assets-margins-drop.html
Damn... does it mean we will no longer see Lamborghinis in Zurich ? Don't think so (btw Z眉rich without luxury cars... would not be Z眉rich...).

Ok guys, then the next question for me is: how to become Commodities trader (=jackpot)? I just picked this on the web:
"The right personal characteristics and the desire to make money from deals are considered more important attributes than academic qualifications" That sounds good to me as I have absolutely any diploma in finance

Of course I am kidding, I believe you must have minimum background in economics/banking. I will investigate it further in the next days.

CU
D2B

SammyDee Member

Member since 15 September 2012

SammyDeeMember04 October 2012 17:39:53

"does it mean we will no longer see Lamborghinis in Zurich ? sad Don't think so (btw Z眉rich without luxury cars... would not be Z眉rich...)."

Well, that's the point, there will be less Lamborghinis and Z眉rich in 10 years won't be the one we know today. Same for Geneva. As a result, the average wage will also go down as banks' health have an impact on the country's economics.

If you want to work in commodities, you should better move to Geneva, however be warned that a lot of people want to work in that area now, so pretty tough to enter without any prior experience at least in finance.

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